Sony Reports Operating Profit
Declined by 20% in Latest Period

By

Bill Spindle Staff Reporter of The Wall Street Journal

Updated Jan. 28, 1999 12:01 a.m. ET

TOKYO -- Sony Corp.'s operating profit fell 20% in the latest quarter, dragged down by falling sales of electronics products such as cellular phones and computer displays in emerging markets and by stiffer price competition in developed countries.

The company said operating earnings fell to $179 billion yen ($1.6 billion) in the quarter ended Dec. 31, on sales that fell 3.2% to 1.9 trillion yen. Before taxes, the company reported an 8.3% increase in profit to 232 billion yen, a rise due mainly to a one-time...